Banks Reduce Offer of Credit


Brazilian banks are reducing the offer of credit to small and medium sized companies due to the growth of default level. One of the alternatives for small players is to advance their receipts through a factoring company, that are also more restricted. According to Anfac (Associacao Nacional de Factoring) this activity moved R$24.3bil in 2000. In addition the officer of PS Factoring, Mr Marconi Pereira, reported that defaults increased by 30% in 2001.

Source: South American Business Information



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Posted on Aug 15, 2001
Region: Brazil